Wichita eagle., 1887-11-08
THE RAILROADS.

1t is now stated that the Northern Pa
cifc Railroad company is negotiating for
the sale of its express and sleeping car
business. The National Express company
has offered TO exchange for the express
business 81 900. 600 of its stock. Another
express company has made better offer
which it is believed will be accepted.
Work on the Chicago. Santa Fe 6 Cali
fornia (the A, T. 6 S. F. line to Chicago
is now going forward with remarkable
rapidity, fully ninety per cent. OF the
grading being finished and track laying
progressing at the rate Of four miles a
day. There have been 134 miles of track
put down. sixty-eight on the Missouri
division and si1ty-six on the Iowa dlvl-
sion.
1t is stated that the c., K. & n. will
build from Wellington. Kan, through
No Mans Land and the Panhandle Of
Texas to Tascosa, where a branch llne
viii go TO Trinidad. the main line con-
tinuing on from Tascosa through the
corn fields of White Oak to FL Paso,
Tex The survey from Tascosa 10 Fl
Paso is made.
At meeting of the directors of the
Kansas CITY. Fort Scott & Gulf and the
Sprin gfeld & Memphis. held in Boston
it was decided to consolidate the two
roads on the basis of share for share.
This means the issuing of Fort Scott q
Gulf stock for Springfield & Memphis.
This will, III the end, carry with IL dis
continuance of the Fort Scott guarantee
and rebate amounting to S1S0,O00 per
year, and probably large saving interest
by the issuing of a consolidated mortgage.
The amount of Fort Sc oft stock Is 1913
600 shares and of Springfield & Memphis
5.264 800 or 9.912, 800 of both. Fort Scott
paid per cent. on its stock in 1886.
Springfield & Memphis should earn that
amount alone on Its stock this year and
$500, 600 saved by consolidation would
add per cent, so that it is easy TO
figure or 6per cent. dividends for the
consolidated property, leaving out bene-
fits which may spring from the Memphis
& Birmingham line. The consolidated
road would be 671 miles long, not count
ing tributary and allied mileage.
The report of the Missouri Pacific
proper for the year closing June 80,
shows the bonded Indebtedness to be
$31, 141 900. For the requirement of the
Denver Memphis & Atlantic and the Fl.
Scott, Wichita & Western bonds to the
amount OF Sc, 146. 900 were issued. The
total amount of paid up stock and bond
ed debt is $50, 010,025 and the cost and
value Of the road and its equipment
$44. sos, $500. There are forty-two sta
lions in Kansas, of which nine are com
mon points The equipment figures
show that the rolling-stock is ample
The employees of the company consist of
four division superintendent, whose
average salaries &181.35 per month;
two master mechanics average
1852 90 per month: 155 conductors aver
age $2.96 per day: 241 engineers, average
S2.56 per day; 81 bsakemen, $1.96 per
day: 81 fagmen. switch and gate tenders
at 50 05 per day; POO station agents at
$3.50 per month; 9OS section men at
S1.19 per day; 655 laborers at $3.50 per
day and 1854 other employees at $1.1S
per day.
The total earnings for the year were
$13, 121 ,71S.15 of which amount Kansas
is credited with So, SS3, 1870. On a
mileage basis the Kansas earnings are 20
per cent. of the whole. The total ex-
penditures for operation were So, 1S6.079,
60.1 per cent. for the earnings. Excess
of earnings over operating expenses,
81 ,001 .525.03.
From the Chicago Times.
For some days past a statement has
been given circulation that the Chicago
& Alton has secured control of a ma
jority of the preferred stock-65 per
cent.-of the Southern Kansas road,
which it had got by purchase from
George Nettleton, of the Fort Scott and
Gulf. The idea sought to be conveyed
was that the Alton had made the pur-
chase with the idea of extending its
operations into Kansas. The Times is
authorized to deny that any such control
has been secured. or that any negotiations
have been in progress looking to such
control. The Atchison obtained control
of the Southern Kansas in 1879. through
the purchase of the entire capital stock of
the Kansas City. Lawrence q Southern
Kansas road, paying par, and issuing
forty-year bonds. dollar for dollar. TO the
amount OF So. $4,000. In 1884 the
interests of the Atchison and Southern
Kansas companies had become so inter-
woven by the building of extensions and
branch lines, that it was considered
desirable to consolidate the accounts.
which was done, and the Southern Kan
sas. while operated under distract cor
porate name. became absorbed in the
Atchi5on system. ANY attempt to divert
the control from the Atchison would be
abOrtive, and the statement so circum-
stantially made has no foundation in
fact. For that matter, neither has any
other which credits the Chicago & Alton
with an intention of invading Kansas.
RumOr has extended it into that section
many times within the past twelve
months, and any number of projected
Kansas roads have given currency 10
runors connecting them with the Alton.
but in every case it has been a flight Of
fancy or a subterfuge to get favorable
for the project. The Chi
cago & Alton 5 steady policy has been to
hold its western terminus at Kansas
City, and there has been nothing in the
situation to induce it to change its
course. What II may do in the future
cannot be predicted, but there Is nothing
in the present situation 10 tempt it 10
enter into the strife now going on in
Kansas territory.
TODAY'S ELECTIONS.